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$106,000 or $124,000 |
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My nephew is buying a house through a real estate agent. The offer accepted was 106,000. He was told after everything is said and done the final price will be 124,000. That seems like alot of extra charges. How much does an agent usually get and how can we find out where these monies are being applied? |
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First off, the agent is usually paid by the seller. Perhaps the extra charges are related to the costs of placing a mortgage. In some areas, the buyer pays a full year's property taxes ahead. At any rate, your nephew should receive a written estimates of all his closing costs. In the meantime, he can certainly ask for an explanation of each charge. |
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Edith
Originally published on May 12, 2008 |
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